FX.co ★ German Inflation Rate Steadies at 2.3%

In November 2025, Germany's annual inflation rate held steady at 2.3%, matching the rate observed in October and slightly below the anticipated 2.4%, according to preliminary estimates. The inflation rate for services remained constant at 3.5%, while inflation for goods decreased marginally to 1.1% from 1.2%. Food prices experienced a slower increase, rising by 1.2% compared to a previous 1.3%, and energy costs declined at a reduced rate of -0.1% versus -0.9%. Month-over-month, the Consumer Price Index (CPI) decreased by 0.2%, marking the first decline since January, following a 0.3% increase in October, and defying predictions of a 0.3% drop. The annual core inflation rate eased to 2.7% from 2.8%. Concurrently, the EU-harmonised CPI increased by 2.6% year-on-year, representing the highest rate in nine months, surpassing October's 2.3% and the forecasted 2.4%. Month-on-month, the harmonised CPI saw a decrease of 0.5%.